SHORT-TERM & TITLE LOANS

Creates the Title Loan Regulation Act. Provides that the Department of Financial and Professional Regulation shall license and regulate entities that offer title loans. Establishes requirements and restrictions applicable to license applications and licensing. Sets forth limitations, requirements, and disclosures applicable to loan agreements, terms of loans, finance charges, and renewal of loans. Provides for: revocation, suspension, and surrender of licenses; information to be available to the public; complaint handling; hearings; books and records; reports; advertising; prohibited acts; requirements and restrictions applicable to vehicle and boat titles; liens; penalties; enforcement; bonding; administrative rules; and other matters. Amends the Financial Institutions Code to provide that the Department of Financial and Professional Regulation shall administer the Title Loan Regulation Act. Amends the Consumer Installment Loan Act to provide that the Act does not apply to title loans. Provides that a knowing violation of the Title Loan Regulation Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Effective immediately.